The restaurant sector experienced a significant contraction during CQ2-2024, declining 6.85% and materially underperforming compared to the S&P 500 (which gained 3.92%) during the period.
Despite the overall loss across the sector this quarter, companies that managed to increase their respective share prices during CQ2-2024 saw an average growth of nearly 16% in their respective stock prices. Companies that experienced a decrease during the quarter lost an average of 18% of their total share value.
While the restaurant industry continues to face considerable ongoing challenges, analysts have remained optimistic about the sector's continued growth and resilience in the second half of 2024 and beyond.
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